Abner Herrman & Brock LLC Sells 457 Shares of Mastercard Incorporated $MA

Key Points

• Abner Herrman & Brock LLC reduced its holdings in Mastercard Incorporated by 1.1% to 40,055 shares, making it the firm's 12th largest holding, valued at approximately $22.5 million.
• Insider transactions included the sale of 9,428 shares by Craig Vosburg and 17,816 shares by CFO J. Mehra Sachin, with total values exceeding $13.7 million, indicating a significant decrease in their ownership stakes.
• Mastercard's quarterly earnings report showed earnings per share of $4.15, beating the estimates, while the company also announced a $0.76 quarterly dividend with a yield of 0.5%.

Abner Herrman & Brock LLC lessened its holdings in Mastercard Incorporated (NYSE:MA - Free Report) by 1.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 40,055 shares of the credit services provider's stock after selling 457 shares during the quarter. Mastercard makes up approximately 2.5% of Abner Herrman & Brock LLC's holdings, making the stock its 12th biggest holding. Abner Herrman & Brock LLC's holdings in Mastercard were worth $22,508,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Accredited Investors Inc. boosted its stake in shares of Mastercard by 2.6% in the 1st quarter. Accredited Investors Inc. now owns 718 shares of the credit services provider's stock valued at $394,000 after purchasing an additional 18 shares during the last quarter. Wealthstream Advisors Inc. boosted its stake in shares of Mastercard by 2.9% in the 1st quarter. Wealthstream Advisors Inc. now owns 632 shares of the credit services provider's stock valued at $347,000 after purchasing an additional 18 shares during the last quarter. Phillips Wealth Planners LLC boosted its stake in shares of Mastercard by 1.8% in the 1st quarter. Phillips Wealth Planners LLC now owns 1,055 shares of the credit services provider's stock valued at $538,000 after purchasing an additional 19 shares during the last quarter. Alta Wealth Advisors LLC boosted its stake in shares of Mastercard by 3.6% in the 1st quarter. Alta Wealth Advisors LLC now owns 540 shares of the credit services provider's stock valued at $296,000 after purchasing an additional 19 shares during the last quarter. Finally, May Hill Capital LLC raised its position in shares of Mastercard by 2.0% in the 1st quarter. May Hill Capital LLC now owns 986 shares of the credit services provider's stock valued at $540,000 after acquiring an additional 19 shares during the period. Institutional investors own 97.28% of the company's stock.

Analysts Set New Price Targets

MA has been the topic of a number of analyst reports. TD Cowen reiterated a "buy" rating and issued a $645.00 price target on shares of Mastercard in a research report on Monday, August 11th. Wolfe Research set a $655.00 price target on shares of Mastercard in a research report on Monday, June 23rd. Wall Street Zen upgraded shares of Mastercard from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Morgan Stanley increased their price target on shares of Mastercard from $639.00 to $661.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, Seaport Res Ptn upgraded shares of Mastercard from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 14th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $626.54.

Insider Activity

In other Mastercard news, insider Craig Vosburg sold 9,428 shares of Mastercard stock in a transaction on Friday, June 20th. The shares were sold at an average price of $353.05, for a total transaction of $3,328,555.40. Following the completion of the transaction, the insider directly owned 58,451 shares of the company's stock, valued at $20,636,125.55. The trade was a 13.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Linda Pistecchia Kirkpatrick sold 958 shares of Mastercard stock in a transaction on Monday, June 30th. The stock was sold at an average price of $560.00, for a total transaction of $536,480.00. Following the transaction, the insider directly owned 23,624 shares of the company's stock, valued at approximately $13,229,440. This trade represents a 3.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,094 shares of company stock valued at $26,521,861. 0.09% of the stock is owned by company insiders.

Mastercard Stock Up 0.6%

Shares of NYSE:MA traded up $3.67 during midday trading on Tuesday, hitting $586.63. The stock had a trading volume of 2,536,607 shares, compared to its average volume of 2,221,096. Mastercard Incorporated has a 12 month low of $465.59 and a 12 month high of $601.77. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.41. The business's 50-day simple moving average is $575.44 and its 200-day simple moving average is $558.53. The company has a market cap of $530.32 billion, a P/E ratio of 39.56, a PEG ratio of 2.39 and a beta of 0.99.

Mastercard (NYSE:MA - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The credit services provider reported $4.15 EPS for the quarter, topping analysts' consensus estimates of $4.05 by $0.10. Mastercard had a net margin of 44.93% and a return on equity of 200.01%. The firm had revenue of $8.13 billion during the quarter, compared to analysts' expectations of $7.95 billion. During the same period in the previous year, the business posted $3.50 earnings per share. The company's revenue for the quarter was up 16.8% compared to the same quarter last year. On average, sell-side analysts forecast that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Thursday, October 9th will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 0.5%. Mastercard's dividend payout ratio (DPR) is 20.50%.

Mastercard Company Profile

Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. The company offers integrated products and value-added services for account holders, merchants, financial institutions, digital partners, businesses, governments, and other organizations, such as programs that enable issuers to provide consumers with credits to defer payments; payment products and solutions that allow its customers to access funds in deposit and other accounts; prepaid programs services; and commercial credit, debit, and prepaid payment products and solutions.